Backed by State Bank of India and UK’s Department for International Development Neev Fund has invested Rs 50 crore ($7.7 million) in the Lucknow-based company.

Mahendra Educational helps job aspirants prepare for competitive examinations at both the central and state levels. It is also a training partner to National Skill Development Corporation and offers vocational courses.

The raised money will be used to set up skill development centres across eight states, including Uttar Pradesh, Rajasthan, Madhya Pradesh, Bihar, Odisha, Jharkhand, West Bengal and Chhattisgarh, according to the press note issued by Neev Fund.

Mahendra Educational managing director Naveen Kumar Jain said the company will deploy the capital in skill development centres and “significantly contribute to the sustainable development of these regions”.

Incorporated in 2008, the company is promoted by Jain and Shikha Jain. It operates close to 135 coaching units and 19 skill development centres. The coaching institutes operate under the Mahendra’s brand.

Economic Laws Practice was the legal adviser to Neev fund on this transaction.

The information contained herein is of generic nature only, and Franchise India is not, by means of
this website or any part thereof, rendering professional advice or services. Before making any
decision or
taking any action that might affect your finances or business, you should consult a qualified
professional advisor. Your use of this website or any of its pages or links given, is at your own
risk and you assume full responsibility and risk of loss resulting from your usage. With respect to
use of the website, kindly visit www.franchiseindia.com/terms.